Creating Shared Value By Michael E. Porter And Mark R. Kramer
The review of this article intends to determine if the author succeeded in developing his argument in regards to shared value in companies. “Creating Shared Value”, by Michael E. Porter and Mark R. Kramer, describes the importance of shared value in business; they discuss the benefits and reasons why companies should incorporate shared value. This article did succeed in explaining why business should have shared value programs implemented.
“Creating Shared Value” is an article that is part of the Harvard Business Review, which is a journal who is dedicated to writing a myriad of articles that pertain to the business world. Shared value is indeed part of a business. This article was written in 2011, which was approximately four years ago; this means that shared value is fairly new in companies.
Businesses are a big part of the economy and impact the lives of many daily. A business’s success is mainly due to its customers; without people who would buy their products or utilize their services, businesses would fail. However, companies have been more focused on creating profits than making sure that they are benefitting society as a whole. To fix this, the authors assert that, “the solution lies in the principle of shared value, which also involves creating economic value in a way that also creates value for society by addressing its needs and challenges” (Porter et al, 2011, p. 64). By catering to the requests of its customers,…